What Happened in the San Marcos Real Estate Market in December 2011?
The San Marcos real estate market continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.
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Media reports tend to speak in general terms, rather than local, so their information will not likely represent the reality of our local San Marcos real estate market. Having information about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.
In December 2011 there were 115 homes sold in San Marcos’ 2 zip codes (92069 and 92078), up 35% from November. Here’s the breakdown of overall activity.
|
|
TOTAL
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DETACHED
|
ATTACHED
|
|
# Sold
|
115 (up 35%)
|
88 (up 40%)
|
27 (up 23%)
|
|
Ave. $
|
$367,698 (up 3%)
|
$408,319 (up 3%)
|
$235,302 (down 5%)
|
|
DOM
|
86
|
82
|
97
|
|
List $/Sale $
|
98%
|
98%
|
99%
|
Sales volume again increased significantly for detached single family homes in San Marcos, but also for attached properties. Average sales prices shifted up modestly for detached homes but declined for attached. Buyers are not negotiating much on their purchases, getting only 1-2% off the asking price on average.
There were 123 San Marcos homes for sale at the end of December with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained.
The San Marcos real estate market tightened further in December - at the end of December 2011 the San Marcos real estate market had 368 homes for sale (33% are contingent), 10% fewer than at the end of November, probably a reflection of the time of year, and another decline.
This represents an inventory of 3.7 months for attached homes (down from 3.9 months) and 3.9 months for detached (down from 4.4 months) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains highly competitive for buyers and is trending more toward a seller’s market overall, with the lowest absorption rates for the North San Diego County coastal communities!
And good news for sellers is that homes are not taking long to sell, on average about 3 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In December 2011 we saw 98 homes come on the market, 4% fewer than last month, suggesting a furthering tightening of the San Marcos real estate market. The number of homes going pending in December (66) declined by almost 1/3 from last month’s pendings, perhaps a reflection of the holiday season.
This overview of the San Marcos real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in December. More details can be provided if needed with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069).
Search for San Marcos Homes for Sale
Search for Lake San Marcos Homes for Sale
READ MORE:
San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in November 2011?
San Marcos Homes for Sale | San Marcos Real Estate Market Report for October 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for September 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for August 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for July 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for June 2011
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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3 Comments on San Marcos Homes for Sale - What Happened in the San Marcos Real Estate Market in December 2011?
Hi Jeff,
Looks like your closing activity in Dec. was really strong for beautiful San Marcos.
Jeff,
It great to see a report with increasing sales AND some increase in prices. Good speed with your San Marcos sales. SC
Hi Jeff, These are some very impressive stats. The market has been picking up for weeks and seems to indicate that we are all going to have an exciting ( as well as busy) year.